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REGISTERED NUMBER: 01244176 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2016

for

Caldrail Limited

Caldrail Limited (Registered number: 01244176)

Contents of the Financial Statements
for the Year Ended 31 December 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Caldrail Limited

Company Information
for the Year Ended 31 December 2016







DIRECTORS: E G Clarke
H Gale
A Clarke
V S Clarke
D Gale





REGISTERED OFFICE: Avaland House
110 London Road
Apsley
Hemel Hempstead
Hertfordshire
HP3 9SD





REGISTERED NUMBER: 01244176 (England and Wales)





ACCOUNTANTS: David Lindon & Co
Chartered Accountants
Avaland House
110 London Road
Hemel Hempstead
Hertfordshire
HP3 9SD

Caldrail Limited (Registered number: 01244176)

Balance Sheet
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 - 162,352
Investment property 6 3,350,000 3,500,000
3,350,000 3,662,352

CURRENT ASSETS
Debtors 7 692,442 546,619
Cash at bank 1,132,610 1,209,045
1,825,052 1,755,664
CREDITORS
Amounts falling due within one year 8 24,675 40,940
NET CURRENT ASSETS 1,800,377 1,714,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,150,377

5,377,076

PROVISIONS FOR LIABILITIES 563,014 595,618
NET ASSETS 4,587,363 4,781,458

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,587,263 4,781,358
SHAREHOLDERS' FUNDS 4,587,363 4,781,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements
of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006
relating to financial statements, so far as applicable to the company.

Caldrail Limited (Registered number: 01244176)

Balance Sheet - continued
31 December 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017 and were signed on its
behalf by:





A Clarke - Director


Caldrail Limited (Registered number: 01244176)

Notes to the Financial Statements
for the Year Ended 31 December 2016


1. STATUTORY INFORMATION

Caldrail Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Transition to FRS 102

These financial statements for the year ended 31 December 2016 are the first financial statements that
comply with FRS 102 1A ''Small Entities''. The date of transition is 1 January 2015.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting
policies to those used previously. The nature of these changes and their impact on opening equity and profit
for the comparative period are explained in the reconciliation of equity and the corresponding notes.

Preparation of consolidated financial statements
The financial statements contain information about Caldrail Limited as an individual company and do not
contain consolidated financial information as the parent of a group. The company has taken the option under
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
Turnover represents management charges and rent receivable.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:

Fixtures, fittings
and equipment - 33 % straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss. Deferred taxation
is provided on these gains at the rate expected to apply when the property is sold.


Caldrail Limited (Registered number: 01244176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except
to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates
and laws that have been enacted or substantively enacted by the year end and that are expected to apply to
the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2016 1,051
Disposals (1,051 )
At 31 December 2016 -
DEPRECIATION
At 1 January 2016 1,051
Eliminated on disposal (1,051 )
At 31 December 2016 -
NET BOOK VALUE
At 31 December 2016 -
At 31 December 2015 -

Caldrail Limited (Registered number: 01244176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2016 162,352
Impairments (162,352 )
At 31 December 2016 -
NET BOOK VALUE
At 31 December 2016 -
At 31 December 2015 162,352

The fixed asset investment brought forward at 1 January 2016 comprises the cost of 100% of the issued
share capital of Malcolm Clarke Limited. At 31 December 2016 that company had net liabilities of
£256,891. The directors have considered the FRS 102 requirement to value its investment at cost less
impairment and on that basis consider the investment to have no value. Hence it has been written off in the
current year.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016 3,500,000
Revaluations (150,000 )
At 31 December 2016 3,350,000
NET BOOK VALUE
At 31 December 2016 3,350,000
At 31 December 2015 3,500,000

Fair value at 31 December 2016 is represented by:

£   
Valuation in 2014 3,080,490
Valuation in 2015 250,000
Valuation in 2016 (150,000 )
Cost 169,510
3,350,000

Caldrail Limited (Registered number: 01244176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016


6. INVESTMENT PROPERTY - continued

Formal written valuations dated 20 October 2017 have been obtained from Jones Lang LaSalle Limited.
They valued the company's investment property at £3,350,000 at 31 December 2016 and £3,500,000 at 31
December 2015.

As regards the 31 December 2014 valuation prevailing at the date of transition to FRS 102, Jones Lang
LeSalle Limited have not performed a formal valuation, but have indicated that the valuation would be
lower than the formal valuations given at both 31 December 2015 and 2016. In light of this, the directors are
of the opinion that a 31 December 2014 valuation of £3,250,000 is a reasonable fair value to adopt.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 3,087 -
Amounts owed by group undertakings 644,945 504,945
Amounts owed by related parties 3,480 3,480
Prepayments 40,930 38,194
692,442 546,619

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 600 221
Corporation tax 14,446 26,601
Social security and other taxes (838 ) -
Rent received in advance 3,361 2,290
Wages control account 36 36
Directors' current accounts 5,070 5,120
Accruals and deferred income 2,000 6,672
24,675 40,940

Caldrail Limited (Registered number: 01244176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016


9. RELATED PARTY DISCLOSURES

Malcolm Clarke Limited

A wholly owned subsidiary of Caldrail Limited.

At 31 December 2016, £644,945 (2015 £504,945) was owed to the company by Malcolm Clarke Limited.
Interest is not charged on this loan, which is repayable on demand.


High Sense Securities Limited

A company under similar ownership.

At 31 December 2016, £3,480 (2015 £3,480) was owed to the company by HIgh Sense Securities Limited.
Interest is not charged on this loan, which is repayable on demand.

10. FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the year ended 31 December 2016. The transition to
FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to those
used previously. The effect of these changes are described below:

Investment property
Investment properties were previously recognised as tangible fixed assets. On adoption of FRS 102 the
investment properties have been separately disclosed under Fixed Assets. The investment property portfolio
have been restated at fair value with the revaluation gain recognised in the income statement.

Provisions for liabilities
A deferred tax liability has been provided for in respect of the unrealised gain on the restatement of
investment properties at fair value.